RBI extends June 2018 MPC meet to 3 days for first time; check new dates here

RBI has mentioned ‘certain administrative exigencies’ as the sole reason for the extension in FY19’s second MPC meeting term. (Image: Reuters)

The Reserve Bank of India (RBI) on Thursday announced that the Monetary Policy Committee meeting scheduled for 5-6 June will start from 4 June and finish on 6 June, extending the stretch for three days for the first time. “Owing to certain administrative exigencies, the second bi-monthly Monetary Policy meeting for 2018-19 will now be held on June 4-6, 2018 instead of on June 5-6,” the Reserve Bank of India said in a statement. The six-member Monetary Policy Committee chaired by RBI governor Urijit Patel will meet on 4, 5 and 6 June 2018, respectively.

RBI has mentioned ‘certain administrative exigencies’ as the sole reason for the extension in FY19’s second MPC meeting term. Following the declaration by the central bank, investors and market participants will likely watching the outcome more closely due to the unusual move by the Reserve Bank of India. “There is no change in the dates of all other MPC meetings for the year 2018-19,” RBI said further.